SoftBank raised $22B in cash from deals that would sharply reduce its Alibaba stake over the coming years; SoftBank had a 23.9% stake in Alibaba as of mid-July
The consequences are potentially huge. SoftBank set to lose its Alibaba board seat unless it buys back its stake, while the market would be flooded with Alibaba shares. It'll be transformative to future of both groups https://www.ft.com/...
SoftBank has raised $22bn in cash from deals that would sharply reduce its stake in Alibaba over the coming years. A massive moment for tech and finance, as Masa Son's fortune built on early bet on Alibaba Huge scoop by @rwmcmorrow @KanaInagaki in @FT https://www.ft.com/...